How to monitor the results of your client's PEP and Sanction results over time
Please note, the below answer may only be applicable if you order your checks via thirdfort.com.
What is Ongoing Monitoring?
Ongoing Monitoring is an important part of the Anti-Money Laundering (AML) procedures required of all regulated businesses. In addition to ID and PEP and Sanction screening, ongoing monitoring is the process of keeping a regular check on the client going forward. Clients can be monitored on an ongoing basis for changes in their PEP status, which could result in increased risk to regulated businesses.
Ongoing Monitoring at Thirdfort
Ongoing Monitoring is a service Thirdfort offer in partnership with our provider ComplyAdvantage. Ongoing Monitoring means that if there are any new matches for the individual in question in the following categories: Politically Exposed Person (PEP); Sanctions; Adverse Media; Fitness Probity or Warnings, you will be notified of these changes.
What does it cost?
The cost of this service will be £1.00 (exc. VAT) for 12 months of Ongoing Monitoring from the moment of initiation. You will receive a notification after 11 months of monitoring asking whether you would like to continue monitoring your client's PEP status for another 12 months. If you would like to continue, no action is necessary. To turn off ongoing monitoring, please see How to Request Ongoing Monitoring.
Need more help?
Please note, the above information may only be applicable if you order your checks via thirdfort.com.
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